Southern Californians are Buying Up Most of the Real Estate South of the Border

Southern Californians are buying up most of the real estate south of the border 

 Half of the properties sold in the city of Tijuana are purchased by investors, most of them from Southern California, by the Mexican Real Estate Professionals Association of Tijuana, or AMPI as it is known south of Tijuana. And looking for income-generating real estate. national borders.

“Half of Tijuana's residential property buyers are investors who intend to rent out their property,” said Carlos Bustamante Mora, president of the association. "Or, like you're renting an apartment or house, they plan to live in the property for a while and then rent it out later."

Most properties for sale today are apartments or condos, Bustamante said.

“Because of Tijuana’s topography and lack of space, there aren’t many construction projects building houses across the city because of the high cost of land, so all projects now include vertical buildings,” he said. said.

Nearly half of Tijuana's homebuyers are from Southern California, according to Bustamante. Inventory shortages and high demand have pushed Tijuana property prices higher.

By the end of 2022, the average apartment price will be set at his $250,000, up 11% from the previous year, according to AMPI.

AMPI also reports that housing costs north of the border have fallen since late spring 2022, but not in Tijuana.